Edible oils remain weak on sluggish demand, global cues

Select edible oils declined further by up to Rs 50 per quintal on the wholesale market here today following sluggish demand at prevailing higher levels amid weakening global trend.  

Castor oil in the non-edible section also eased due to reduced industrial offtake.

Traders said subdued demand from retailers and stockists at prevailing higher levels and reports of weakening global trend mainly led to fall in wholesale edible oil prices.

They said reduced offtake by industrial units and other consuming industries kept pressure on the castor oil prices.

Mustard expeller oil (Dadri) shed Rs 20 to Rs 5,980, while sesame and cottonseed mill delivery (Haryana) oils traded lower by Rs 50 each to Rs 6,200 and Rs 5,520 per quintal respectively.

Palmolein (rbd) and palmolein (Kandla) remained under selling pressure and lost Rs 50 each to Rs 5,850 and Rs 5,550, while crude palm oil (ex-kandla) shed Rs 20 to Rs 5,200 per quintal, respectively. 

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 50 each to Rs 6,470 and Rs 5,920 per quintal, respectively.

In the non-edible section, castor oil eased by Rs 50 to Rs 8,350-8,450 per quintal.

Following are today's quotations:  

Oilseeds: mustard seed 2,525-2,655 and Groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 1,065-1,140

Edible oils: Groundnut mill delivery (Gujarat) 8,500, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 5,980, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,470, Soyabean  degum (Kandla) 5,920, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,520

Palmolein (RBD) Rs 5,850 Palmolein (Kandla) 5,550, Rice bran (phy) 3,750 and Coconut (per tin) 1,720-1,780

Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,350-8,450, Neem 4,050-4,150, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut dehusk 800-850, sesame 950-1,150, Mustard (new) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175